(Total Views: 822)
Posted On: 01/11/2018 5:38:59 AM
Post# of 4081
Hi Grizz... Wang obviously paid a measly nuisance settlement total of $$ (likely under $500K) to nearly all defendants in order for them to relinquish their shares! There is no way he would have dismissed a case without prejudice after a long delay and paying legal fees without such an agreement in place. In fact, I would not be surprised if Wang paid less than $250K to dispose of those shares.
Consider that Wang could easily pay Fidler to litigate the case further, if necessary... could the defendants? Heck, one guy had his attorney respond with a hand written letter! The fact the dismissal was announced the same time that defendant responses were due (yesterday) is no accident- Fidler used the pressure of the defendants needing to respond to the complaint as leverage to induce a deal. Otherwise, Wang could have picked any time MONTHS AGO to dismiss the case.
And here is another important aspect that MMs and their sycophants took advantage of yesterday as they painted this as a poor deal for us lucky $JVZY$ longs... THIS WAS A MEDIATED SETTLEMENT AND NOT ARBITRATION. AS A RESULT, THE SETTLEMENT TERMS WILL UNDOUBTEDLY NOT BE ABLE TO BE DISCLOSED BY ANY PARTY! For binding arbitration this is often not the case.
I will mention this later on LieHub but fear not Grizz... Wang has been an awesome CEO for us already and this dismissal is just the beginning of what will be an amazing and profitable ride for Jinbo shareholders! All the best!
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Consider that Wang could easily pay Fidler to litigate the case further, if necessary... could the defendants? Heck, one guy had his attorney respond with a hand written letter! The fact the dismissal was announced the same time that defendant responses were due (yesterday) is no accident- Fidler used the pressure of the defendants needing to respond to the complaint as leverage to induce a deal. Otherwise, Wang could have picked any time MONTHS AGO to dismiss the case.
And here is another important aspect that MMs and their sycophants took advantage of yesterday as they painted this as a poor deal for us lucky $JVZY$ longs... THIS WAS A MEDIATED SETTLEMENT AND NOT ARBITRATION. AS A RESULT, THE SETTLEMENT TERMS WILL UNDOUBTEDLY NOT BE ABLE TO BE DISCLOSED BY ANY PARTY! For binding arbitration this is often not the case.
I will mention this later on LieHub but fear not Grizz... Wang has been an awesome CEO for us already and this dismissal is just the beginning of what will be an amazing and profitable ride for Jinbo shareholders! All the best!
Nav
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